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Thu 9 Oct 2008 02:47 PM

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Egypt urban inflation falls to 21.5%

Consumer prices in urban parts of Egypt down from 23.6% in the year to August - state news agency.

Consumer prices in urban parts of Egypt rose 21.5 percent in the year to September, down from 23.6 percent in the year to August, the state-run statistics agency CAPMAS said on Thursday.

Prices in the country as a whole rose 22.2 percent in the year to September, from 25.6 percent in the year to August, CAPMAS said on its website.

Food prices in the country as a whole rose 0.1 percent in the month to September, compared to 3.5 percent a month earlier.

The Central Bank of Egypt nudged its key overnight interest rates higher six times this year in an effort to stop inflation rising.

A Reuters poll of economists in July found that inflation will drag down growth in the real gross domestic product of the most populous Arab country in the current 2008/09 fiscal year to below 7 percent, from 7.2 percent in the previous year

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